TON Foundation Targets US Expansion Under Pro-Crypto Policies
Encouraged by expectations of a favorable regulatory environment under the incoming Donald Trump administration, the TON Foundation is gearing up for major expansion in the United States.
As part of this strategic shift, the foundation announced changes in its leadership.
TON Foundation enters the US market
TON has named Manuel Stotz, founder of Kingsway Capital Partners Ltd. and chairman of the foundation. Stotts succeeds Steve Yun, who will continue to serve on the board of directors.
“As co-founder of Kingsway Capital, he has experience managing billions of assets and supporting major blockchain players. Together with Steve Yun, Manuel will advance the foundation’s mission to enhance decentralization and build new U.S. collaborations Partnership.” TON Foundation wrote on X (formerly Twitter).
Donald Trump, who will take office on January 20, has pledged to position the United States as a digital asset hub. As BeInCrypto reported earlier, He may issue executive order supporting cryptocurrencies on his first day in office.
The order may be Reversal of existing SEC policy This limits banks’ ability to custody Bitcoin and other cryptocurrencies.
It would mark a major departure for the president Joe The Biden administration’s restrictive approach.
“It won’t just be a new US president that will make America great again… TON will be here to help! TON will benefit everyone. It’s only a matter of time!” wrote Jack Booth, co-founder of TON Society.
TON Foundation, support Development of TON Blockchainaiming to make crypto services accessible to Telegram’s 950 million user base.
The foundation was officially established in Switzerland in 2023. It follows the 2020 SEC settlement This halted Telegram’s early efforts to raise funds for blockchain projects.
December 2024, Foundation Expansion into Abu Dhabi under ADGM’s distributed ledger technology framework. The move aims to provide legal support for decentralized projects in the Middle East and North Africa and Asia-Pacific regions, with the goal of reaching 500 million users by 2028.
Click-to-earn game engagement drops
Despite its ambitions, TON faces challenges. Blockchain transaction volume hit an all-time high in 2024 due to the popularity of click-to-earn games. However, its total value locked (TVL) fell from $760 million in July 2024 to $296 million in December.
Meanwhile, Toncoin continues to struggle in the market. It has fallen 15% over the past month and is still 35% below its all-time high in July. Decline in interest in click-to-money gamesFor example Hamster fightingcausing these setbacks.
at the same time, Telegram CEO Pavel Durov arrested He was arrested in France last year on charges related to platform abuse. However, he denies all accusations.
Since TON integration, Telegram’s revenue will exceed $1 billion in 2024. As TON seeks to expand beyond the Telegram ecosystem, its efforts to increase utility and adoption will be key to reinvigorating interest in the blockchain.
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